Protecting the organization against risk and the role of financial audit on the example of the internal audit

Bożek, Sylwia; Emerling, Izabela

doi:10.12775/oec.2016.028

Cited by 11 publications

(5 citation statements)

References 1 publication

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“…When decision makers in position of investors consider a particular offer, they rarely have perfect information about potential transaction partners (Grčić Fabić et al, 2016;Jovanović et al, 2016). They have to decide whether to engage in the exchange and about the terms using the best information available (Sonenshein et al, 2011;Cipovová and Belás, 2012;Hagyari et al, 2016;Bożek and Emerling, 2016;Jonek-Kowalska, 2017). One of the problems in online peer-to-peer lending is information asymmetry between the borrower and the lender what might result in adverse selection (Akerlof, 1970).…”

Section: Literature Reviewmentioning

confidence: 99%

Determinants of Successful Loan Application on Peer-to-Peer Lending Market

Gavurová¹,

Dujcak²,

Kováč³

et al. 2018

Economics &Amp; Sociology

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Peer-to-peer lending, as an alternative to classic bank loans, has become popular all over the world. On the basis of the conceptual characteristics, it can be expected that loans should be more advantageous from the view of costs. But as the studies describe, there are significant differences due to the factors, which can be affected by borrowers with the aim to get funded. We have examined the role of the particular factors, as part of provided data by borrowers for the decision-making process by investors in the dataset from the peer-to-peer lending website Bondora, managed by the Estonian company Isepankur. With the method of the multinomial logistic regression model, we described the importance of borrowers' decisions and their effects on funding results. The debt to income rate is the most significant variable and the highest negative impact is reached by the home ownership type variable. There are 28 factors with a nonnegative impact and 20 factors have a negative influence. Comparison of these findings to other studies enable us to describe the impacts of the social identity data and information about the loan for investors, within the peerto-peer lending market environment.

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Section: Literature Reviewmentioning

confidence: 99%

Determinants of Successful Loan Application on Peer-to-Peer Lending Market

Gavurová¹,

Dujcak²,

Kováč³

et al. 2018

Economics &Amp; Sociology

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“…It assists organizations in achieving their objectives by assessing and improving the effectiveness of risk management, controls, and governance processes (Eulerich & Eulerich, 2020). Internal auditing is crucial for safeguarding organizational assets, evaluating risk management practices' effectiveness, and ensuring financial information's accuracy (Sylwia & Izabela, 2016). In Ireland, however, internal auditing extends beyond the financial domain.…”

Section: Scope Of Voluntary Auditing In Irelandmentioning

confidence: 99%

Research on Voluntary Internal Audit of Irish Business

Zhao,

Zhao

2023

TEL

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Internal audit provides independent assurance regarding corporate risk management, internal control, and compliance and is a crucial component of the corporate governance framework. In contrast to auditing requirements in other nations, voluntary internal auditing has become integral to management decision-making in Irish businesses. The paper examines the internal and external factors and motivations that have contributed to the adoption of voluntary audits by Irish companies, analyses the impact of voluntary internal audits on Irish companies and the current challenges they face, and suggests that domestic companies, whether listed or not, should take the initiative to introduce voluntary internal audit systems.

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“…Audit [30] is etymologically, procedurally, and conceptually based on the Latin word "audire" which means "to listen" or "to hear" [31,32]. The term is derived primarily from the historical theories of the Roman Empire: theories about soldiers, where officers would listen to the complaints of the soldiers [33]; theories about officials, where one listened to a reading of the other's accounting [34,35]; theories about the administrators whose reports on management were followed [36]; and theories about auditors, who listened to accountants when investigating live practices [37,38].…”

Section: Literature Reviewmentioning

confidence: 99%

Conceptual Comparison of Internal Audit and Internal Control in the Marketing Environment

et al. 2021

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There is a conceptual problem in the adequate application of internal audit and internal control in the real business of the marketing environment. Although both of these managerial tools are theoretically defined, they are practically interchangeable in business. This limits their application. It is therefore necessary to focus on both concepts and make the theory and practice more precise or remove any overlaps. The aim of this paper is therefore a theoretical and practical comparison of internal audit and internal control concepts in the marketing environment. To fulfil this purpose and verify the hypotheses, this paper uses computer assisted self interviewing. The research was conducted in Q1 2021 with a sample of 3052 small and medium enterprises from the international environment of the EU 27. The research conclusions show a strong correlation of the theoretical perception of the terms of internal audit and internal control. At the same time, they show a weak correlation with the audit and control tools used in practice. They also define audit as planned independent assurance (soft consultation) and control as operational managerial assurance (hard comparison). This defines and clarifies scientific theories for managerial practice, thus enhancing and increasing the efficiency of internal audits and internal control in the business environment.

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Protecting the organization against risk and the role of financial audit on the example of the internal audit

Cited by 11 publications

References 1 publication

Determinants of Successful Loan Application on Peer-to-Peer Lending Market

Determinants of Successful Loan Application on Peer-to-Peer Lending Market

Research on Voluntary Internal Audit of Irish Business

Conceptual Comparison of Internal Audit and Internal Control in the Marketing Environment

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